BTC has only just begun to experience volatility. The natural price is somewhere between $10^7 and $10^-7 (I'd pay $1 to own all the BTC, just for kicks). The future will sort it out.
For as long as coins are still being made, there's direct connection to reality. Someone, somewhere, will have a few integral BTC, and they'll probably want to exchange them for something else of value. After the coins run out, I can't figure out what happens; it might be bad.
In my view, this is the way to look at BTC:
http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zvzl
BTC has only just begun to experience volatility. The natural price is somewhere between $10^7 and $10^-7 (I'd pay $1 to own all the BTC, just for kicks). The future will sort it out.
For as long as coins are still being made, there's direct connection to reality. Someone, somewhere, will have a few integral BTC, and they'll probably want to exchange them for something else of value. After the coins run out, I can't figure out what happens; it might be bad.